Carleton College

Analysis

Carleton College is a registered charity in United States, based in Northfield, MN. It received its IRS tax-exemption ruling in June 1938, 88 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Carleton College reported income of $296.5m and spending of $240.0m, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $239.2m to $296.5m (+24%), an average of +5.5% a year. The sharpest change came in the year to June 2021, when income rose by 34%. Over the whole period it spent 77% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Carleton College sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MN. Charities of a similar size with the same main cause include Texas A&m Foundation ($293.3m), Ascendium Education Solutions Inc ($298.2m) and The Villages Charter School Inc ($292.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $2.8m (1.2% of expenses). Other salaries and wages came to $71.3m. At year end it held assets of $1.73bn against liabilities of $162.2m, net assets of $1.57bn. It reported 2,994 employees.